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VC Daily: Question: What to Make of Efforts in Congress to Lower Drug Prices?

VC Daily: Question: What to Make of Efforts in Congress to Lower Drug Prices?
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Research Bridge Partners Portfolio Company, Novosteo, Inc , Closes $5 5 Million in Series A Financing

Novosteo, Inc. s NOV004 has shown promise in live animals in the acceleration of fracture healing when delivered systemically. The compound is unique in that it concentrates at the fracture site while avoiding accumulation in the rest of the body. Proceeds from the financing will be used to advance NOV004 into clinical development that will begin in the first half of 2021. Bone injuries and disease are one of the most challenging health issues facing all ages, especially for the elderly. Despite the advent of preventive measures, one in three hip fracture patients who are 65 and older will die within a year; many deaths occur as a result of the complications due to slow fracture healing and long-term immobilization.

Purdue universityUnited statesDan haslerReid hoffmanRalphc corleyIsaac barchasEli lillyPhilip low of purdue universityPurdue research foundationNational institutes of healthPurdue department of chemistryNovosteo incResearch bridge partnersSilicon valleyDistinguished professorKairos ventures

Research Bridge Partners Portfolio Company, Novosteo, Inc , Closes $5 5 Million in Series A Financing

Research Bridge Partners Portfolio Company, Novosteo, Inc , Closes $5 5 Million in Series A Financing
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Purdue universityUnited statesDan haslerReid hoffmanRalphc corleyIsaac barchasEli lillyPhilip low of purdue universityPurdue research foundationNational institutes of healthPurdue department of chemistryNovosteo incResearch bridge partnersSilicon valleyDistinguished professorKairos ventures

Bone treatment startup raises $5 5 M in Series A financing

E-Mail IMAGE: The image shows fractured femurs at three weeks post-fracture. Yellow and orange colors indicate higher density bone than purple and blue and the green arrows point towards the fracture site.. view more Credit: Novosteo Inc. Novosteo Inc., a preclinical-stage biotechnology startup focused on the development of bone-targeted therapeutics, announced Thursday (February 4) the closing of a $5.5 million in Series A financing to advance its development of the first-ever targeted bone anabolic agent NOV004. The compound has shown promise in live animals in the acceleration of fracture healing when delivered systemically. NOV004 is unique in that it concentrates at the fracture site while avoiding accumulation in the rest of the body. Proceeds from the financing will be used to advance NOV004 into clinical development that will begin in the first half of 2021.

Purdue universityUnited statesDan haslerAlex andrianopoulosEli lillyPhilip low of purdue universityNational institutes of healthNovosteo incBioatla incPurdue research foundationNational institutesKairos venturesBiocrossroads venturesElevate venturesPurdue researchPhil low

Bone treatment startup raises $5 5 M in Series A financing, names pharmaceutical leader William Boyle as CEO

Date Time Share Bone treatment startup raises $5.5 M in Series A financing, names pharmaceutical leader William Boyle as CEO The image above shows fractured femurs at three weeks post-fracture. Yellow and orange colors indicate higher density bone than purple and blue and the green arrows point towards the fracture site. The “targeted” bone received Novosteo’s injectable-targeted drug, whereas the control bone did not receive drug, representing current therapies. Comparing the two bones, the additional bone growth caused by Novosteo’s drug could help people with fractures return to normal activity quickly in the future. (Image provided by Novosteo Inc.)

Purdue universityUnited statesDan haslerLos angelesAlex andrianopoulosEli lillyPhilip low of purdue universityNational institutes of healthNovosteo incBioatla incPurdue research foundationNational institutesKairos venturesBiocrossroads venturesElevate venturesPurdue research